HiFi Buys (store)

This article is about the defunct retail chain. For the loudspeaker driver, see Tweeter. For social networking site of similar name9, see Twitter. For other uses, see Tweeter (disambiguation).

"Douglas TV" redirects here. For TV topics "Douglas", see Douglas (disambiguation).

TWTR Inc.

File:Tweeterlogo.png
Formerly	Tweeter Opco Tweeter Home Entertainment Inc.
Company type	Limited liability company (Tweeter Opco) Corporation (TWTR Inc.)
Industry	Consumer electronics retail
Founded	May 1, 1972 (1972-05-01) (Boston)
Founder	Sandy Bloomberg, Michael Bloomberg
Defunct	Template:End date and age
Fate	Chapter 11 Bankruptcy and Liquidation
Headquarters	Canton, MA
Number of locations	100 (at closure)

File:2008-08-11 Tweeter store in Durham.jpg

Tweeter outlet in Durham, North Carolina.

Tweeter, initially known as Tweeter Etc. and later as Tweeter Home Entertainment, was a specialized retailer in consumer electronics offering mid-range to premium electronic devices such as flat panel TVs, plasma TVs, car radios, home theater systems, and GPS units. The business also emphasized customized installation services for residential and automotive electronics.

At its peak, the company operated over 100 retail locations across 18 states, predominantly along the eastern seaboard, but with additional stores in Illinois, Texas, California, Nevada, and Arizona. These outlets functioned under several brand names including Tweeter, HiFi Buys, Showcase Home Entertainment, and Sound Advice.

Founded by Sandy and Michael Bloomberg with the opening of their inaugural store in the Boston region in 1972, the enterprise rapidly grew throughout the New England area.

Expansion was primarily driven by acquisitions, beginning with Bryn Mawr Stereo in 1996. Subsequent acquisitions included Atlanta's HiFi Buys in 1997, San Diego’s DOW Stereo/Video in 1999, Chicago-based United Audio Center and Douglas TV stores during the year 2000 and Florida’s Sound Advice in 2001. These purchases allowed Tweeter to quickly establish a footprint across the Southeast and Midwest amid a thriving housing market.

In March of 2007, Tweeter declared it would shut down 49 outlets and eliminate approximately 650 jobs while closing all California locations along with the majority of its Southeast stores. By June that year, Tweeter Home Entertainment sought protection under Chapter 11 bankruptcy, with its assets acquired at auction by Schultze Asset Management on July 13 following an unsuccessful restructuring effort. Schultze then reestablished operations under the name Tweeter Opco LLC.

Despite efforts to revive operations, Tweeter Opco filed again for Chapter 11 bankruptcy on November 5, 2008. Before filing, the company initiated liquidation sales ahead of the holiday season. However, disagreements among creditors over funding for continued sales led to complete closure of all stores on December 3, resulting in layoffs of all approximately 600 employees. Subsequently, the Chapter 11 case was converted into a Chapter 7 liquidation. Customers who had paid deposits or purchased merchandise found those funds frozen as part of the bankruptcy estate, ultimately requiring them to file claims as creditors during liquidation proceedings.

TWTR Inc.

After the initial Chapter 11 bankruptcy filing in 2007 and the subsequent transfer of assets to Schultze, the original Tweeter entity (which had become a shell company) continued to operate under the new name TWTR Inc..

On October 4, 2013, more than six years following the asset sale—and nearly five years after the Tweeter retail chain permanently closed—shares of TWTR Inc., then still trading under the symbol "TWTRQ," surged to nearly 1,500% above the prior day's closing price (rising from US$0.007 to $0.15). The stock eventually settled at $0.051, marking an increase exceeding 684%, after trading was suspended at 12:42 pm EDT. This unusual spike coincided with Twitter, Inc.’s announcement of its preliminary initial public offering filings released the day before, which disclosed plans to adopt the ticker "TWTR"—the same symbol previously used by Tweeter before its bankruptcy. This overlap appeared to cause confusion among some investors. Shortly following this event, the ticker for TWTR Inc. was updated to "THEGQ." The company was officially dissolved on April 23, 2014.